British will have to return to Russia everything being "generously given away" — Volodin

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MOSCOW: Britain's transfer of the first funds to Ukraine, secured from frozen Russian assets, constitutes a flagrant violation of international law, according to Vyacheslav Volodin, the Speaker of the Russian State Duma.

"The transfer of Russia's assets by Britain to Ukraine is a serious breach of international law. They will ultimately have to return to Russia what they are now so generously giving away, much like how Trump is now compelled to reverse Biden's reckless decisions regarding Ukraine," Volodin warned.

"This action will permanently undermine confidence in Britain's financial system, as it undermines the principle of property inviolability, which is the foundation of the entire global financial system," the State Duma's press service quoted Volodin as saying.

According to Volodin, Russia now "has every reason to respond in a similar way and confiscate British property" located in our country.

Earlier, Ukrainian Prime Minister Denis Shmygal announced via his Telegram channel that Ukraine had received 752 million pounds (approximately 971.3 million dollars) from Britain, secured through proceeds from frozen Russian assets. According to The Times, Britain has frozen around 26 billion pounds in assets belonging to the Bank of Russia, in addition to approximately 18 billion pounds in assets held by individuals included in sanctions lists.

In October 2024, the leaders of the Group of Seven (G7) countries issued a joint statement announcing that they had reached an agreement on the details of a 50-billion-dollar loan to Ukraine. They emphasized that the loans would be serviced using future revenues from frozen Russian sovereign assets, in accordance with the legal systems of the G7 countries and international law. The United States committed to providing 20 billion dollars to Ukraine, while the remaining 30 billion dollars would be allocated through collaborative efforts between the G7 and the European Union. In response, Russian Presidential Spokesman Dmitry Peskov stated that the transfer of funds to Ukraine from the proceeds of Russian assets frozen by the West could ultimately lead to legal repercussions.

-News Feed